Revenue associated with NGN OSS/BSS support of IoT will reach USD 13.3 billion by 2021 as North America edges Asia-Pacific region in terms of revenue with USD 24.1 billion and USD 20.3 billion respectively by 2021. The global OSS-BSS software market is projected to grow at a CAGR of 18.52 percent during the period 2016–2021.
Communication service providers are adopting next generation OSS/BSS systems for many reasons, including integration with new IP-based frameworks, emerging networks, applications, business models, and data. Faced with unprecedented change, CSPs must deal with new business frameworks associated with the cloud, unstructured (big) data, and Internet of Things networks and data.
CSPs must consider optimization of OSS/BSS with respect to these emerging areas as well as supporting infrastructure and tools including software-defined networks, network function virtualization, carrier Ethernet 2.0, life cycle orchestration, and the emerging MEF-defined Third Network.
Demand for customized OSS-BSS software is a key trend for this market. Telecom operators are shifting their business model from a technology-centric model to a customer-centric one. Hence, the adoption of customized OSS-BSS software will facilitate telecom service providers to deliver bundled services, which will enhance user experience.
The increased adoption of convergent billing systems is a key driver for this market. The telecom industry is highly competitive, and players in this market are focusing much on channels that maximize their revenue streams with the adoption of convergent billing systems to gain a competitive edge. Revenue management system has undergone a drastic shift from traditional basic billing and charging methods, and accounting function to a completely new platform that establishes new revenue streams.